Daiwa Securities Group Inc. Acquires 2,122 Shares of Occidental Petroleum Co. (NYSE:OXY)

Daiwa Securities Group Inc. lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,182 shares of the oil and gas producer’s stock after acquiring an additional 2,122 shares during the period. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reby Advisors LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter valued at approximately $25,000. Grace Capital grew its stake in Occidental Petroleum by 58.5% during the fourth quarter. Grace Capital now owns 1,585 shares of the oil and gas producer’s stock valued at $166,000 after acquiring an additional 585 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Occidental Petroleum by 122.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,872 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,029 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Occidental Petroleum in the 1st quarter worth $50,000. Finally, Vestor Capital LLC bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $42,000. 66.64% of the stock is currently owned by institutional investors.

In related news, major shareholder Carl C. Icahn sold 3,500,000 shares of the business’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $25.60, for a total transaction of $89,600,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carl C. Icahn sold 2,600,000 shares of the company’s stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $26.88, for a total value of $69,888,000.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Occidental Petroleum from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 1st. Wolfe Research restated an “underperform” rating and issued a $20.00 price target on shares of Occidental Petroleum in a research report on Monday, April 19th. Jefferies Financial Group upgraded shares of Occidental Petroleum from an “underperform” rating to a “hold” rating in a research report on Thursday, January 21st. MKM Partners upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, April 20th. Finally, Morgan Stanley increased their price target on shares of Occidental Petroleum from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.44.

NYSE:OXY opened at $25.10 on Monday. The firm has a 50-day simple moving average of $25.66 and a 200-day simple moving average of $21.71. Occidental Petroleum Co. has a one year low of $8.52 and a one year high of $32.52. The firm has a market cap of $23.43 billion, a P/E ratio of -1.46 and a beta of 2.35. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.86 and a current ratio of 1.02.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Sunday, May 9th. The oil and gas producer reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.18. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $4.64 billion. Occidental Petroleum had a negative net margin of 76.17% and a negative return on equity of 15.55%. Occidental Petroleum’s revenue was down 20.0% compared to the same quarter last year. During the same period last year, the company posted ($0.52) earnings per share. On average, research analysts predict that Occidental Petroleum Co. will post -3.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Thursday, June 10th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Wednesday, June 9th. Occidental Petroleum’s payout ratio is currently 2.76%.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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